CEO Drops $61M on 432 Park Avenue Penthouse

Savvy investor Lewis Sanders scored himself a discount to boot

A wealthy financier has paid more than $60 million for a penthouse at 432 Park Avenue, the tallest residential building in the Western Hemisphere.

Lewis Sanders, the founder of Sanders Capital and former Chairman of AllianceBernstein, and his wife Alice splashed out $60.89 million on a penthouse on the 88th floor at the Rafael Viñoly-designed building, according to property records, which showed that the sale closed today.

He also scored himself a discount from the original asking price of $76.5 million for the 8,055-square-foot, five-bedroom penthouse, which comes with a private elevator and boasts panoramic views of Central Park and the skyline.

Still, it’s not the most expensive sale at the luxury skyscraper. Fawaz Al Hokair, a Saudi billionaire retail magnate, paid $87.7 million for a 8,255-square-foot full-floor penthouse earlier this year, according to The Real Deal. He also received a discount from the original asking price of $95 million.

In addition to the penthouse, Mr. Sanders also dropped $1.3 million for separate staff quarters, according to property records. These so-called accessory suites that traditionally house staff including nannies, personal assistants or chefs account for approximately 40 of the 106 apartments at the skinny skyscraper.

Residents of the 1,396-foot tower’s luxury condos will have access to 30,000 square feet of amenities over three full floors, including a private restaurant just for them and their guests.

Other amenities include a fitness center managed by celebrity trainer Jay Wright’s company, The Wright Fit, as well as a yoga studio, billiards room, an 18-seat screening room, and an executive boardroom, a 75-foot indoor swimming pool and a separate jacuzzi.

Douglas Elliman Real Estate, who is handling sales for the building, did not respond to immediate request for comment, while Robby Browne, Chris Kann and Jennifer Ireland from Corcoran Group Real Estate, who acted on behalf of the buyer, declined to comment. There was also no immediate response from Sanders Capital.